FMR LLC Discloses 6.29% Passive Stake in First Interstate Bancsystem
Ticker: FIBK · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 860413
| Field | Detail |
|---|---|
| Company | First Interstate Bancsystem INC (FIBK) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**FMR LLC just revealed a 6.29% stake in First Interstate Bancsystem, signaling institutional confidence.**
AI Summary
FMR LLC, a major investment management firm, and its Chair and CEO, Abigail P. Johnson, have disclosed a significant passive stake in FIRST INTERSTATE BANCSYSTEM INC (FIBK). As of December 31, 2023, FMR LLC beneficially owns 6,605,392 shares, representing 6.290% of the bank's common stock. This matters to investors because it signals that a large, sophisticated institutional investor sees value in FIBK, potentially indicating a positive long-term outlook for the stock.
Why It Matters
A major institutional investor like FMR LLC taking a significant stake can boost investor confidence and potentially attract more buying interest in FIRST INTERSTATE BANCSYSTEM INC.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally carries lower risk than active or activist stakes.
Analyst Insight
Smart investors should view this as a positive signal, suggesting that a large, sophisticated institutional investor sees long-term value in FIRST INTERSTATE BANCSYSTEM INC. It might be worth researching FIBK further to understand the factors attracting such investment.
Key Numbers
- 6,605,392 — Shares Beneficially Owned (Total shares of FIRST INTERSTATE BANCSYSTEM INC common stock owned by FMR LLC and Abigail P. Johnson.)
- 6.290% — Percent of Class (The percentage of FIRST INTERSTATE BANCSYSTEM INC's common stock owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — the reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, associated with FMR LLC
- FIRST INTERSTATE BANCSYSTEM INC (company) — the issuer of the common stock
- 6,605,392 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
- 6.290% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- FMR LLC will maintain or slightly increase its passive stake in FIRST INTERSTATE BANCSYSTEM INC over the next year. (FMR LLC) — medium confidence, target: 2025-02-09
FAQ
Who is the primary reporting person in this SC 13G filing?
The primary reporting person is FMR LLC, a parent holding company based in Boston, Massachusetts, as stated in Item 2(a) and Item 3 of the filing.
What is the total number of shares of FIRST INTERSTATE BANCSYSTEM INC common stock beneficially owned by FMR LLC?
FMR LLC beneficially owns 6,605,392 shares of FIRST INTERSTATE BANCSYSTEM INC common stock, as detailed in Item 4(a) of the filing.
What percentage of FIRST INTERSTATE BANCSYSTEM INC's common stock does FMR LLC own?
FMR LLC owns 6.290% of the class of FIRST INTERSTATE BANCSYSTEM INC's common stock, as specified in Item 4(b) and Item 11 for both FMR LLC and Abigail P. Johnson.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and further explained in Item 3.
What is the CUSIP number for FIRST INTERSTATE BANCSYSTEM INC's common stock?
The CUSIP number for FIRST INTERSTATE BANCSYSTEM INC's common stock is 32055Y201, as listed in the filing under 'Cusip #32055Y201' and Item 2(e).
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FIRST INTERSTATE BANCSYSTEM INC (FIBK).